ASSIGNMENT:

This was a fun purchase transaction for one of our best clients. They were in a 1031 exchange

CHALLENGE:

The biggest challenge on this transaction was we either needed a lower price or more income because the rents were very low for the market area.

SOLUTION:

Fortunately the owners of the property were siblings who kind of inherited the property and they wanted to sell and cash out so they had no issues in raising the rents which allowed us to get to a loan amount that worked. This was a tougher transaction.